China's automobile industry revenue grew 4 percent to surpass 10.6 trillion yuan (about 1.48 trillion U.S. dollars) in 2024, data from the China Passenger Car Association showed Tuesday.

The sector showed accelerating growth momentum in December 2024, when revenue increased 13 percent year on year to 1.19 trillion yuan, outpacing the full-year growth rate.

In 2024, the auto industry maintained a steady 4.3 percent profit margin while navigating market transitions, and lithium battery manufacturers posted a 48.5 percent profit surge, the data showed.